According to Jayadev Galla, chairman of Amara Raja Energy & Mobility, while speaking about the finance situation of the Congress government in Telangana on Saturday, this company may have to look elsewhere for expanding plant capacity if it does not honor the commitments made by its previous BRS regime. Galla’s comments came at a time when Chief Minister A Revanth Reddy and his team are touring the US trying to hard sell Telangana as an investment destination. Earlier in the day, Amara Raja Group held a groundbreaking programme for their state-of-the-art Customer Qualification Plant for cell manufacturing and also inaugurated…
Author: sanjana.I
New Delhi: The Centre formed a committee to monitor the situation in Bangladesh amidst reports of targeted violence against minorities. The committee would ensure the safety also of Indians and other minorities in the country amid deadly protests that saw the fall of the Sheikh Hasina government. The Government of India has constituted a Committee to monitor the current situation on the Indo-Bangladesh Border. Such a committee shall maintain channels of communication with counterpart authorities in Bangladesh so that Indian citizens and people from minority communities there remain safe. “The Committee will be headed by ADG, Border Security Force, BSF,…
RBI Monetary Policy Highlights: The third bi-monthly Monetary Policy for FY25 was announced today, August 8, by Reserve Bank of India Governor Shaktikanta Das. A six-member Monetary Policy Committee, headed by RBI Governor, decided to keep the benchmark repo rate unchanged at 6.5% and retain the policy stance as ‘withdrawal of accommodation’. The policy rate has been kept unchanged with a 4 to 2 majority in the MPC voting. It retained the real GDP growth estimates for FY25 at 7.2 per cent, and CPI inflation projection at 4.5 per cent. RBI MPC Meeting Highlights: Here are the key takeaways of…
The Reserve Bank of India is all prepared to announce the policy rate on Thursday with a big challenge in the form of food inflation, symbolized in “thali” or food plate. Analysts continue tracking the price of food items in the thali and represent food inflation, which apparently looks stubborn. The Monetary Policy Committee of the Reserve Bank of India may keep the key interest rate at 6.5% because of the sustained food inflation. The high prices of food stay high due to weather fluctuations and deficiencies in the agriculture sector, even as inflation in the other sectors remained in…
Paris 2024 Olympics Welcomes Reliance’s Jio Finance Super App With the countdown having begun in Paris to host sports lovers from across the world for the 2024 Olympics, Jio Financial Services Ltd. announced the official launch of the Jio Finance app in Paris as a strategic initiative to help smoothen the digital transactions for Indian travelers. Jio Finance will help complete international payments for such activities and purchases in Paris. This includes buying tickets to the Eiffel Tower online on its official website—La Tour Eiffel—for in-store shopping at one of Paris’ most famous department stores, Galeries Lafayette Paris Hausmann. With…
The highly awaited men’s hockey quarterfinal at the Paris Olympics 2024 between India and Great Britain was struck by controversy when Great Britain goalkeeper Ollie Payne was, initially, allowed to view the penalty shoot-out on an iPad. Hockey India raise concern regarding refereeing Condemning the incident, Hockey India President Dilip Tirkey said that such disturbances in a high level match have to be prevented. Nothing, notepads or any such device, should be allowed near the shootout area, according to Tirkey, as sometimes they can cause a disturbance in the minds of the players. The unflappable manner in which Shivendra Singh,…
While many countries have successfully transitioned from low-income to mid income status, the challenge lies in avoiding the infamous ‘middle income trap’. This phenomenon refers to the challenges faced by countries as they become stuck in a rut, unable to break through to higher levels of income and prosperity. To address this issue, the World Bank has implemented various strategies to help countries escape the middle-income trap and continue on their path to sustainable development. The “middle-income trap” is a situation where countries stagnate in their development after having reached a particular level of income. This is about 10 percent…
